1st time poster, long time reader and share holder (down 70%).
"start ups all run this same way".. actually, they don't- bad companies "run this same way". I have worked for 3 start-ups, 2 of which were very well run, disruptive, and ultimately acquired. Well-run companies, regardless of size, are laser focused on the people and process to deliver a world-class product to the market. In my eyes, Titan is not a start-up. The only reason someone would call Titan a start-up is because they don't have a product they can sell. Look how long they have been in business, how much cash they have gone through, how much R&D they have invested. Not a start up. Titan is a company that needs to get their act together. I am hopeful that Fowler's departure is the first step in that. But make no mistake, they are playing serious catch-up (not just in our stock price).
"just a slow time in the field because of the election and investors are doing due diligence.." No. This is not a slow time for investing or acquisitions. Look up the amount of money and quantity of acquisitions Medtronic has made in 2016 (4 acquisitions; somewhere around $1.7 billion or more). A company like that would and could pay whatever they wanted to invest into Titan in exchange for "first right of refusal" as an acquisition target when the product gets FDA clearance or hits certain international and/or domestic sales targets. This happens all the time as big(ger) companies test the waters into areas of interest. Think of all of the gigantic medical companies that could be doing this with Titan...yet none of them are.
As stated above, I'm down 70% on the stock. I want it to work and not selling. But I'm reading some of these posts where people are speculating we'll get purchased for $1 billion or more and I'm just shaking my head. Think of the target selling price of SPORT- if they target $1 million sale price, if they sold 200 robots they'd be lucky to get $1 billion as that would be a 5x multiple on sales (which is higher than current med device multiple).
"You think Hargrove and co will take $1 and be done- out of your mind and aren't thinking rational about this." Wake up...they won't have a choice. Give me a single example where Hargrove or anyone else has shown the ability to negotiate a good deal. They haven't. And there have been times over the years when they had all kinds of leverage to negotiate! Now they have no leverage. The company is losing money at a rapid rate. Suppliers are putting restrictions in place. You think Titan has leverage to call the shots? You think Hargrove has the brain power to make the right move? C'mon. And who knows. $1/share might actually be a nice pay-day for some of these guys depending on what their shares are valued at.
AI
